Air ticket prices to soar, Fuel for aircraft hiked again to record high

Jet fuel prices on Friday were hiked by 2 per cent - the seventh straight increase this year - to an all-time high, reflecting a surge in global energy prices.

Aviation turbine fuel (ATF) - the fuel that helps aeroplanes fly - was hiked by Rs 2,258.54 per kilolitre, or 2 per cent, to Rs 1,12,924.83 per kl in the national capital, according to a price notification by state-owned fuel retailers.

Jet fuel constitutes over 45% of operating costs and is now at a record high after rising 50% since just January. Airlines are likely to knock at the FM's door to bring ATF under the GST regime to get some relief on the taxes and duties as crude prices continue to hover around the $100 mark.

Jet fuel prices are revised on the 1st and 16th of every month based on the average international price of benchmark fuel in the preceding fortnight.